All Forum Posts by: Account Closed

Bought out by Property Management Inc of Kansas City

It won't let me post up the phone number or contact details.

All the best

Fascinating response Laird. 

I myself have had some experience with investing "in an area far from where I live". I cannot stress the importance of having high quality 'eyes and ears' on the ground. 

Laird 2 questions if I may:

1. How do you source references from "out of town clients of theirs" that belong to a particular property management group?

2. If an investor takes the plunge and invests in a particular out of area market, say 'Cleveland', selects a property management group, then after a period of time, that property management group ceases all communication with that investor: How would you recommend that investor proceed?? 

I cannot stress this enough, when selecting an interstate property management team you absolutely must have excellent communication channels with that team. The feedback mechanism will save you grief and ultimately money. 

Hi Jim
I am still with Arrow Equity Trust.
They have been fantastic thus far and I will stick with them.

Previously I have warned others to avoid Precise Property Management. They have folded and I believe the people responsible are on new adventures.
Avoid doing property business with Mark Roth and/or Michelle Anderson. I have heard too many horror stories. You will lose money.

Happy investing.

Hi K J
How did you go with this???
thanks

Avoid Precise Property Management LLC at all costs.
I have switched to Arrow Equity Trust LLC and thus far they have been very good.
Good luck.

Thanks Mat.
This is exactly what I want from a property management company.

Thanks Paul.
As it turns out I can terminate my property management agreement without penalty.
Perhaps I should cut my losses and terminate the contract then source another property management group.
This would save me a lot of stress moving forward.

Joel: Thanks for your quick response.

I have just found the Property Management Group listed in the "Missouri Division of Professional Registration".
I received an email from the registered owner (Broker Associate)about a month ago promising to have all issue resolved before the end of February. My property manager reports to this registered owner.

So it appears this LLC is licenced to Missouri only.

I have just located a complaint form on the "Missouri Division of Professional Registration" website. I have downloaded and will now read and decide.

I bought an investment property in Kansas City (Independence). It came with a tenant. I am currently situated overseas and cannot get back to the USA until April 2014 (earliest). The property manager is aware that I am overseas.

I use a property manager to look after the property for me and deposit rent money into my Wells Fargo bank account. For the first 9 months this system worked well.

Problem:
About 11 months ago the property manager stopped depositing rent money into my account (except for October 2012).
I have received numerous reasons why this is the case via email.
- "A new payment program is being set up so there is a delay in processing".
- "Numerous repairs to house" (no evidence or receipts)
- "The tenant has yet to pay the rent this month”.
- “I promise to sort this out as soon as possible.”
- “I promise to start the eviction process by Friday if the tenant does not come in and pay the rent”
Now the property manager and the owner of the property management LLC refuse to respond to my emails for the past 3 weeks.
When I call the up the front office I get the same message: “I’m sorry they are not available to talk to you at this time. Please email them with any concerns”.
I continue to service a $55,000 loan and paid the recent Tax Bill.
Assume I have no family in the nearby area to assist.
What are the options do I have before me????? Any assistance would be greatly appreciated.